The Law of Securities, Commodities and Bank Accounts
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The Law of Securities, Commodities and Bank Accounts

The Rights of Account Holders

  • Elgar Financial Law series

Marek Dubovec

In this unique study Marek Dubovec examines contemporary commercial relationships between investors and their intermediaries – relationships based on accounts that hold intangible rights to securities, funds, and commodity contracts. Such accounts have replaced the traditional physical possession and delivery of tangible objects, such as security certificates, coins, and commodities that were previously used in commercial relationships.
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Conclusion

Marek Dubovec

Extract

This book attempted to explore and analyse the fundamental features and legal aspects of an emerging trend in commercial practice, which is the holding of assets in accounts with intermediaries. Such holding is a relatively new structural and legal phenomenon based on principles developed over the millennia. In the last couple of decades, the holding systems for rights to securities, funds and commodity contracts have become not only integrated within the commercial marketplace but have also overshadowed many other traditional areas of commercial law. Local and international legislators no longer attempt to modernize the law of negotiable instruments, payments by check, deposits, bailments or paperbased documents of title; instead their focus is gradually shifting to the law of account relationships.

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